The two SEZs will be developed by Delhi State Industrial and Infrastructure Development Corporation at a total investment of Rs 785 crore.
The Delhi government will start work on setting up of two Special Economic Zones from next month as it has got all required permissions from the Centre, including the Environment Ministry's clearance.
The two SEZs -- one in Gems and Jewellery and the other in IT and IT-enabled services -- will be developed by Delhi State Industrial and Infrastructure Development Corporation (DSIIDC) at a total investment of Rs 785 crore.
"We have got all the required permissions including from the Commerce Ministry and Environment Ministry," a senior official of the Industries department said.
DSIIDC managing director Chetan Sanghi said an investment of nearly Rs 785 crore will be required to set up the two SEZs, which are expected to be functional within the next 30 months.
He said modalities are being framed for involvement of the private players in setting up of these tax-free zones. "The private players will be allowed to invest a portion of the total cost."
The gems and jewellery SEZ, to be spread over 41.4 acres of land in Baprola village, will have specialised infrastructure like facilities for identification, grading and certification of diamond as well as a world-class Gems and Jewellery Training Institute.
"It is expected to provide direct employment to 18,000 people and indirect employment to 54,000 people," Sanghi said. Delhi contributes approximately 10 per cent of the country's total export of gems and jewellery.
The second SEZ for promoting IT sector, which will be set up on 26 acres of land in south Delhi, is expected to provide direct employment to 36,000 people and indirect employment to another 1,08,000.
The IT SEZ will house convention halls, hotels, hospital and residential accommodation besides arrangements for social amenities, utilities and specialised infrastructure.
The industries department official said the land has already been transferred to DSIIDC for the two SEZs.
He said a gem testing lab and an assaying course have also been planned in Gems and Jewellery SEZ.
After announcement of the Delhi SEZ policy last February, the city government had received eight proposals from the private developers to set up the tax free zones in the city but most of them put on hold their plans due to the economic slowdown.
DLF Commercial Developers Ltd, Consolidate Finvest and Holdings Ltd and some other developers had even identified land for their SEZs but later backed out.
According to the Delhi government's Industrial Policy, no polluting industries will be allowed to be set up inside SEZs and environmental clearance will be a must for all projects.
Under the SEZ Act of the central government, units in these zones will be given 100 per cent tax exemption on their income for the first five years and 50 per cent in the next five years.
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